Tieton Capital Management LLC Sells 750 Shares of Customers Bancorp, Inc. (NYSE:CUBI)

Tieton Capital Management LLC cut its position in shares of Customers Bancorp, Inc. (NYSE:CUBI) by 0.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 236,203 shares of the bank’s stock after selling 750 shares during the quarter. Customers Bancorp accounts for 5.7% of Tieton Capital Management LLC’s investment portfolio, making the stock its 3rd biggest holding. Tieton Capital Management LLC owned approximately 0.75% of Customers Bancorp worth $10,972,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of CUBI. ProShare Advisors LLC lifted its holdings in shares of Customers Bancorp by 7.4% in the first quarter. ProShare Advisors LLC now owns 5,763 shares of the bank’s stock valued at $306,000 after purchasing an additional 398 shares in the last quarter. Vanguard Group Inc. grew its holdings in Customers Bancorp by 5.4% during the 1st quarter. Vanguard Group Inc. now owns 2,186,920 shares of the bank’s stock valued at $116,038,000 after buying an additional 111,654 shares during the last quarter. O Shaughnessy Asset Management LLC increased its position in Customers Bancorp by 5.8% during the first quarter. O Shaughnessy Asset Management LLC now owns 22,404 shares of the bank’s stock worth $1,189,000 after buying an additional 1,226 shares in the last quarter. Quadrature Capital Ltd raised its holdings in shares of Customers Bancorp by 15.1% in the first quarter. Quadrature Capital Ltd now owns 12,090 shares of the bank’s stock worth $642,000 after acquiring an additional 1,582 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Customers Bancorp by 8.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,576 shares of the bank’s stock valued at $721,000 after acquiring an additional 1,030 shares in the last quarter. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Customers Bancorp news, Director Robert Neil Mackay sold 4,000 shares of Customers Bancorp stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $53.78, for a total transaction of $215,120.00. Following the transaction, the director now owns 4,567 shares of the company’s stock, valued at $245,613.26. The trade was a 46.69 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Glenn Hedde sold 5,002 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $53.68, for a total transaction of $268,507.36. Following the completion of the transaction, the insider now owns 66,256 shares in the company, valued at approximately $3,556,622.08. This represents a 7.02 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 96,440 shares of company stock worth $5,425,815. 6.92% of the stock is owned by corporate insiders.

Customers Bancorp Stock Performance

CUBI stock opened at $56.09 on Friday. The firm has a market cap of $1.76 billion, a P/E ratio of 9.11 and a beta of 1.61. The stock’s 50 day simple moving average is $48.31 and its 200 day simple moving average is $49.47. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.78. Customers Bancorp, Inc. has a 12-month low of $42.31 and a 12-month high of $68.49.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings data on Thursday, October 31st. The bank reported $1.34 earnings per share for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.09). Customers Bancorp had a net margin of 15.22% and a return on equity of 13.55%. The business had revenue of $167.10 million for the quarter, compared to the consensus estimate of $191.61 million. During the same period in the prior year, the company earned $2.59 EPS. Customers Bancorp’s quarterly revenue was down 23.2% on a year-over-year basis. As a group, equities research analysts predict that Customers Bancorp, Inc. will post 5.63 EPS for the current year.

Analysts Set New Price Targets

CUBI has been the subject of several analyst reports. B. Riley boosted their target price on shares of Customers Bancorp from $78.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Keefe, Bruyette & Woods downgraded shares of Customers Bancorp from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $57.00 to $52.00 in a research note on Monday, November 4th. StockNews.com cut shares of Customers Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday. Piper Sandler cut their price target on Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating for the company in a report on Monday, November 4th. Finally, Wedbush cut Customers Bancorp from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $79.00 to $53.00 in a report on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $61.11.

Customers Bancorp Company Profile

Customers Bancorp, Inc operates as the bank holding company for Customers Bank that provides financial products and services to individual consumers, and small and middle market businesses. The company provides deposit banking products, which includes commercial and consumer checking, non-interest-bearing and interest-bearing demand, MMDA, savings, and time deposit accounts.